“We welcome the opportunity to provide the Committee with information on this matter and to discuss steps we have taken to affirm our commitment to customers,” a Wells Fargo representative told CNBC in a statement.
Wells Fargo’s headaches with regulators and lawmakers have been growing for the last eight days, after agencies including the Consumer Financial Protection Bureau slapped the bank with an $185 million fine. The bank, over a five-year time frame, saw 5,300 staffers — many of them low-ranking staff, according to Wells Fargo’s CFO — open as many as 1.5 million deposit accounts and 565,000 credit card accounts, of which the bank could not “rule out the possibility that an account was unauthorized.”
Others have expressed doubts that senior executives weren’t aware of the problems at the bank.
On Thursday, Massachusetts Senator Elizabeth Warren told CNBC that there is “a serious problem with senior management at Wells Fargo.”
Wells Fargo’s Stumpf is expected to testify before the Senate Banking Committee on Tuesday.